联合研究丨行业点评 [Table_Title] 氢能周度观察（11）：液氢储运产业进展如何？ 报告要点 [Table_Summary] 2025 年液氢储运技术加速突破，液氢储运正从示范走向规模化应用。液化能耗持续优化，规模 化建设是降本的关键，可显著降低单位能耗与成本。在长距离运输场景中，液氢已展现出比高 压气态方式更优的经济性，运输效率大幅提升，这成为推动氢能产业链加速降本与规模化的重 要动力。展望"十五五"，预计氢能产业将向规模化、商业化深度演进。 分析师及联系人 [Table_Author] 徐科 司鸿历 贾少波 SAC：S0490517090001 SAC：S0490520080002 SAC：S0490520070003 SFC：BUV415 SFC：BVD284 李博文 盛意 SAC：S0490524080004 SAC：S0490525070006 请阅读最后评级说明和重要声明 2 / 6 %% %% %% %% research.95579.com 1 丨证券研究报告丨 %% %% %% %% research.95579.com 2 丨证券研究报告丨 cjzqdt11111 2026-02 ...

（来源：势银能链） "宁波膜智信息科技有限公司"为势银（TrendBank）唯一工商注册实体及收款账户2026势银液氢产业大 会（2026年4月15日，无锡）点此报名 2025年，液氢产业迈入加速发展期。从上游制氢液化到中游储运加注，再到下游场景应用，全产业链多 点开花；政策标准持续完善筑牢发展根基，企业融资合作热潮涌动，液氢规模化、商业化的步伐显著加 快。 液氢全产业链突破不断 液氢产业的爆发，始于上游制氢与液化环节的突破—— 储运与加注是液氢产业落地的核心支撑，2025年多项关键技术与工程取得重大进展—— 装备研发方面—— 河南利源集团与河南中科清能、未势能源合作建设的氢液化综合利用项目开工。该项目建成后年 产液氢2.3万吨，可解决高端电子装备制造业用氢需求； 由未势能源牵头承担的河北省科技计划"液氢'制、储、运、加'系统集成关键技术及示范"项目， 取得多项关键进展； 河北旭阳5吨/天液氢示范项目成功入选河北省重点建设项目，成为区域产业标杆； 中科富海牵头打造的首条民用液氢制储运用全产业链示范工程启动，打通从制氢到应用的完整链 路； 三峡集团乌兰察布"源网荷储一体化"试验基地顺利产出液氢，系统额定工况下日 ...

"宁波膜智信息科技有限公司" 为势银（TrendBank）唯一工商注册实体及收款账户 2026势银液氢产业大会（2026年4月15日，无锡） 点此报名 添加文末微信，加 氢储运 群 2025年，液氢产业迈入加速发展期。从上游制氢液化到中游储运加注，再到下游场景应用，全产业链多点开花；政策标准持续完善筑牢发展根 基，企业融资合作热潮涌动，液氢规模化、商业化的步伐显著加快 。 液氢产业的爆发，始于上游制氢与液化环节的突破—— 储运与加注是液氢产业落地的核心支撑， 2025年多项关键技术与工程取得重大进展—— 装备研发方面 —— 河南利源集团与河南中科清能、未势能源合作建设的 氢液化综合利用项目开工。该项目建成后年产液氢2.3万吨，可解决高端电子装备 制造业用氢需求； 由 未势能源 牵头承担的河北省科技计划"液氢'制、储、运、加'系统集成关键技术及示范"项目，取得多项关键进展； 河北旭阳 5吨/天液氢示范项目成功入选河北省重点建设项目，成为区域产业标杆； 中科富海 牵头打造的首条民用液氢制储运用全产业链示范工程启动，打通从制氢到应用的完整链路； 三峡集团 乌兰察布"源网荷储一体化"试验基地顺利产出液氢，系统额定工况 ...

Core Viewpoint - The article discusses the advancements and market position of Zhongcai Technology (Suzhou) Co., Ltd. in the hydrogen energy storage and transportation sector, highlighting its innovative products and significant market share in China [2][8]. Group 1: Hydrogen Storage and Transportation Challenges - Hydrogen storage and transportation face significant challenges, including high technical difficulty and cost-effectiveness issues. Main storage methods include high-pressure gas hydrogen, low-temperature liquid hydrogen, metal hydride, and organic liquid hydrogen [4]. - High-pressure gas hydrogen is currently the primary method in China due to its mature technology and lower costs, while low-temperature liquid hydrogen has high energy consumption and costs [4]. Group 2: Technological Innovations - Zhongcai Technology (Suzhou) focuses on hydrogen storage and transportation, with capabilities to produce 100,000 III-type hydrogen storage cylinders annually, covering sizes from 1.5L to 450L [4]. - The new 35MPa 450L III-type cylinder has improved operational efficiency for hydrogen-powered heavy trucks by reducing system weight while increasing volume [4][5]. Group 3: Market Performance - Zhongcai Technology (Suzhou) leads the domestic market in hydrogen cylinder production, with over 50% model installation rate as per the Ministry of Industry and Information Technology, maintaining its market leadership for two consecutive years [7]. - The company also promotes hydrogen storage and transportation equipment, including hydrogen storage containers for refueling stations and composite long-tube transport trailers, enhancing transportation efficiency [7]. Group 4: Company Overview and Future Plans - Established in 2004, Zhongcai Technology (Suzhou) is a national high-tech enterprise under China National Building Material Group, with a production capacity exceeding 1.2 million gas cylinders annually [8]. - The company aims to continue advancing hydrogen storage and transportation technology, expanding application scenarios to support the development of a clean, low-carbon, and safe hydrogen energy system [8].

Core Insights - Hydrogen storage technology has three main routes: gaseous, liquid, and solid, with gaseous storage being the most mature and widely applied technology currently [2] - The release of the national standard for IV-type hydrogen storage bottles has accelerated the mass production process and provided a technical consensus for the industry [2][3] - The market for hydrogen fuel cell vehicles is expected to expand due to favorable government policies, reduced green hydrogen costs, and improved infrastructure [5] Industry Developments - IV-type hydrogen storage bottles have been showcased by manufacturers at the FCVC 2025, indicating a shift towards standardized products [2][3] - The first 70MPa IV-type hydrogen storage bottle produced by Zhongcai Technology (Suzhou) has a storage capacity of 18.9 kg, reaching the national standard's volume limit [3] - The company also introduced a liquid hydrogen storage system with a 1350L capacity, capable of storing approximately 88 kg of liquid hydrogen, enabling a vehicle range exceeding 1000 km [3] Market Trends - The future of hydrogen storage is expected to see a coexistence of III-type and IV-type bottles, with the latter being more suitable for fuel cell passenger vehicles due to its lightweight structure and higher hydrogen density [3][4] - The competition in the hydrogen storage sector will focus on product performance and cost, as more companies enter the market [6] - Despite recent underperformance in the hydrogen market, industry insiders remain optimistic about its future prospects [4][5]